Kuwait’s gas production will rise to 510m cubic feet
The Kuwait Petroleum Corporation (KPC) and its affiliates plan to ratchet up free gas production capacity to 510 million cubic feet and increase light oil output to 200,000 barrels per day (bpd) by December, a Kuwaiti senior official said on Wednesday, as quoted by Kuwait News Agency, KUNA.
Speaking to the press, Minister of Oil Essam Al Marzouq said the capacity would be enhanced through three production units to be configured soon, all of which will churn out 100 cubic feet of free gas and 40,000 bpd of light oil.
Al Marzouq, who doubles as the minister of electricity and water, pointed out that Kuwait has collaborated with reputable gas exploration and production (E&P) companies to help meet the country’s rising need for natural gas, as temperatures soar during summer.
He added that Kuwait, through cooperation with staunch ally Saudi Arabia, was “eager to develop its gasfields in order to boost production capacity.”
— a month during summer. A Beijing-based spokesman for the company that’s known as Sinopec declined to comment.
Gasoline demand growth in China, the world’s biggest energy user, will average 95,000 barrels a day in 2017, “dramatically” below gains of 230,000290,000 barrels a day of the prior two years, the Paris-based IEA said in a report on July 13. Meanwhile, passenger-vehicle sales in the first half dropped for the first time in at least 13 years.
“Fuel demand in China is being challenged by alternative transportation such as shared bicycles and natural gas fired cars,” said Guo Yifan, an analyst at Shanghai-based Sinolink Securities. She predicted the use of shared bikes in big cities may replace 1.27 million tonnes of gasoline demand this year while natural gas cars have already displaced 22 million tonnes of fuel used in transportation in 2016.